Happy Friday! Our commercial real estate news aggregation today covers a forecast for the world’s commercial market in 2017, an analysis of why REITs are struggling in the S&P and coverage of a bill proposed to help Florida’s businesses with their commercial leases.
Kevin Thorpe, global chief economist for Cushman & Wakefield, spent Thursday forecasting the future of Charlotte’s commercial real estate market, as well as the world’s. For the short term, Trump’s tax cuts, combined with a boost to infrastructure projects, should give a boost to the US economy.
REITs have had difficulty gaining momentum since forming their own S&P 500 real estate sector in late August. Acute sensitivity to increasing interest rates may be to blame for the under-performing stocks.
Good news for Florida business owners. State Rep. Larry Ahern proposed a bill to do away with the tax Florida tenants pay on their commercial real estate leases. According to Ahern, the law will affect 300,000 businesses in the first year, with 1 million eventually benefiting.